Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Wednesday after DA Davidson lowered their price target on the stock to $245.00. $698.52 million flowed into the stock on the tick-up and $985.07 million flowed out of the stock on the tick-down, for a money net flow of $286.55 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.62 for the day and closed at $153.92

AAPL has been the topic of a number of other research reports. Canaccord Genuity reiterated a “buy” rating on shares of Apple in a research report on Friday, January 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $185.00 price target on shares of Apple in a research report on Friday, January 18th. UBS Group reiterated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Monday, January 14th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $228.00 price target on shares of Apple in a research report on Friday, January 11th. Finally, HSBC lowered Apple from a “buy” rating to a “hold” rating and reduced their price target for the company from $200.00 to $160.00 in a research report on Wednesday, January 9th. Three research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $195.33.

In related news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now owns 8,940 shares in the company, valued at approximately $1,698,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in AAPL. Cornerstone Wealth Management LLC boosted its holdings in Apple by 18,553.3% in the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after acquiring an additional 16,668,866 shares in the last quarter. Morgan Stanley boosted its holdings in Apple by 9.7% in the third quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after acquiring an additional 3,452,792 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Apple by 18.8% in the third quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after acquiring an additional 3,293,674 shares in the last quarter. Royal London Asset Management Ltd. bought a new position in Apple in the second quarter worth approximately $385,873,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Apple by 6.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after acquiring an additional 1,030,981 shares in the last quarter. Institutional investors and hedge funds own 57.05% of the company’s stock.

The firm has a market capitalization of $770.79 billion, a PE ratio of 12.92, a P/E/G ratio of 1.50 and a beta of 1.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. Equities analysts expect that Apple Inc. will post 12.02 earnings per share for the current fiscal year.

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Apple Company Profile (NASDAQ:AAPL)

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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